Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Wayfair Stock Tumbled 24% in October

TheMotleyFool

0 0

Why Wayfair Stock Tumbled 24% in OctoberPhoto, wide shot, wide-angle lens, Retail store, Midday, harsh overhead sunlight, directional sunlightt, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/add1012b-1b24-4eb2-aba0-77ab52c7f8ad.png

Shares of Wayfair (NYSE: W) were moving lower last month as the online home-furnishings retailer was stung by rising interest rates and a weak earnings report at the beginning of November.

Wayfair has struggled since its pandemic-era boom as Americans have sharply scaled back on home-related spending due to high interest rates and the lock-in effect of low mortgage rates during the pandemic, which has brought existing home sales to their lowest point in nearly 30 years.

Against that backdrop, Wayfair fell another 24% last October, according to data from S&P Global Market Intelligence.

Source Fool.com